Most Businesses Fail Because of Cash Flow

Entrepreneurs tend to try to think positively when creating their budgets. The key to success is to be realistic about your projections, and to prepare your projections six months to a year in advance. If there is a light at the end of the tunnel and you fear it may be a train, you need a good six months to plan for and avoid it.

Information and strong relationships are critical in this area. You need to have a good credit history in order to leave the option open to borrow or operate on credit for a short time. Keep solid relationships with your banking institutions and be up on the different financial products available from some of the government financial institutions that may be able to assist you in the event of a cash flow challenge.

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